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#91KING residential design/floorplans
The sky’s the limit for this former Woolworth’s building…literally! Zoning allows for up to 20 storeys. As an added bonus there are no heritage restrictions. What is the highest and best use? The ground floor must remain commercial (think shops, restaurants etc…) but the upper floors could be just about anything. Since Saint John is already experiencing high vacancy rates in the office leasing market, residential probably makes the most sense. Just imagine apartments and/or condos overlooking King’s Square. Floorplans have been designed to show what could be done including a proposed parking garage in the basement. Check it out…
Interested in seeing this in more detail? Click to download .pdf >>> Proposed Condo floorplan
Have ideas for this building? Tweet them! #91KING
The Value of our Built Heritage
Excerpt from an essay by David Kilburn “The Value of Heritage, The Problem with South Korea”
NEGLECT & FAILURE TO ACT
“Perhaps the biggest problem of all is simply human neglect, the failure to act when the heritage from the past is in danger. Regulations alone cannot preserve culture. People need to recognize, value, and retain their heritage for it to survive.”
THE STORY OF ROME
“Witness the story of ancient Rome (Lançon 2001). In 425 AD, When the city of Rome was already over 1,000 years old, the Emperor Majorian was so concerned about the demolition of historic buildings that he decreed that any public official who authorised such work should be fined 50lb kg of gold while those of lesser ranks who were involved should be flogged or have hands amputated! Despite the decree, over the centuries that followed, most of the ancient city was steadily destroyed. The real destruction was wrought not by invading barbarians, but by the Romans themselves who gradually demolished old buildings to re-use the marble blocks, and fired classical sculptures to make lime for builders and whitewash for painters. By the time people learned to appreciate the heritage of Ancient Rome, over 90% of it was gone: Rome had become a city of tantalizing ruins.”
HERITAGE AS AN ECONOMIC ASSET
“Heritage buildings are often destroyed in urban areas based on the argument that the land needs to be put to more productive economic uses or must serve more important social needs. Yet these arguments typically ignore the simple fact that heritage is an economic asset that, properly managed, can deliver continuing streams of revenue. Part of the attraction for the millions of tourists that flock to London, Paris, Venice, and other European cities each year lies in the exploration of historic buildings, districts, and all the many other factors that are part of each city’s cultural heritage. Cultural tourism provides employment, revitalizes old districts, and generates new opportunities in trade and the service industries.”
How do tenants decide which building to take space in?
Price per square foot is a key factor but the financials are often very competitive. The decision to lease in one building versus another is often swayed by physical attributes.
Suite 101, 14 King Street. 1,842 s.f. office.
Tenants want to feel comfortable that the building they are moving to is going to be an asset to their company and that prospective employees will see it as an attractive place to work. The three key elements are:
- Amenities: The “walkability” of our uptown created by the internal pedway system means that most of the amenities that tenants want are nearby.
- Aesthetics: Saint John’s inventory of heritage buildings offer the character that many people crave such as high ceilings and exposed brick & beams. “Historic buildings have a unique appeal that new buildings cannot duplicate {on the flip side} new buildings have the long-span, light-filled, flexible footprints and modern common-area finishes that are so attractive. Many buildings built from 1960 to 1990 are caught in-between, and if they remain un-renovated, often feel trapped in time.”
- Sustainability. Only a few of buildings in Saint John are LEED certified.
Read more about what tenants want and the benefits of LEED certified buildings HERE via www.high-profile.com
Resurrecting formerly blighted parks & train tracks spurs economic development
Lessons learned from New York City’s High Line park
“The city had recouped construction costs within a year, as the corresponding uptick in property taxes in 2010 “surpassed the cost of constructing the park itself.” Former New York City Mayor Michael Bloomberg also touted the success of the High Line in 2011, when he told a crowd that it had led to more than $2 billion in private investment, according to the Times.
Given the success of the High Line, both as a public works project and a local economic engine, it’s not surprising that cities across the U.S. and elsewhere around the globe are moving forward with plans to resurrect formerly blighted parks and train tracks.”
Read the back story and further information HERE via http://www.freeenterprise.com
PICS: my High Line photos from 2011
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- High Line Information
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- High Line Park
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- View of Old Rail Bed
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- View from High Line
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- High Line NYC
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- Urban Park on Elevated Rail Way
#222water Waterfront Redevelopment Opportunity
View of Building from Water Street
Located at the core of redevelopment of one of the oldest port cities in North America. Current group of owners are looking to sell or partner with investors with the goal of realizing 222 Water’s full potential.
The building is 50’ x 100’, 7 stories high and approximately 32,900 square feet of gross leasable space.
The property has a very flexible zoning. The property is not flagged as “heritage” which means developers will have the utmost leeway for creativity and design.
Follow #222water on Twitter. For more info & additional photos click HERE
PHOTO GALLERY
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- Street view from Prince William showing proximity to Harbour
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- Brick Walls
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- Entire building has been gutted and ready for fit ups
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- 1 level up from Water
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- View of Water Street from upper floors
Brideau speaks to importance of a vibrant downtown core
The Atlantic Provinces Economic Council (APEC) held its 20th annual Business Outlook Conference on November 3-7 in Halifax, St. John’s, Saint John and Charlottetown. APEC just released the Conference Report “A Look Ahead at the Region’s Economy in 2020”. This report summarizes the key messages from APEC staff and industry panelists, who discussed what businesses can do to prepare for 2020. Two panelists spoke to the issue of urban development:
Andy Fillmore, Vice-President of Planning and Development at Waterfront Development, discussed the need for sustainable, attractive urban development to entice young workers to live in the region. He explained how decades of suburban development in Halifax and underdevelopment in the downtown core has caused a hollowing out of the city’s population. He talked about how young professionals are looking for walkable communities and living in apartments and condos as opposed to purchasing single dwelling suburban homes and cars due to financial constraints and the desire to live a healthier lifestyle. Citing his work with the Council for Canadian Urbanism, Fillmore called for more progressive, sustainable urban development to improve economic health and social inclusiveness.
Keith Brideau, Founder of Historica Group of Companies, described new opportunities for growth in the downtown core. Through his experience of living in urban spaces in Toronto, Brideau was inspired to work in urban development. New IT companies with young professionals want to be based in downtown cores to have access to decision makers and because their employees are based in urban areas. Brideau discussed how housing affordability is an issue with more people looking to live in condos and apartments. He also highlighted baby boomers as an emerging market as maintenance costs for single dwelling homes will be undesirable.
Click HERE to view and/or download the entire report.
LEASED: 77 Germain Street BEFORE & AFTER PICS
Appnovation announced on Aug 14th, 2014 that they were coming to Saint John and that they would be creating 63 jobs here. They arrived earlier to scout for space for their new Saint John office and what they found was a diamond in the rough on the top floor of 77 Germain Street (many people know this building as 40 King Street – our city’s hub of economic development agencies)
The floor had previously been used to house some large computer equipment and had never been restored to match the lower floors. This “raw” space became vacant and available in 2014 and Appnovation saw the potential.
Stephanie partnered with Justin Omichinski, Avison Young, Vancouver to represent Appnovation in their search and lease negotiations.
BEFORE & AFTER PICS
SUB-LEASED: This amazing view now belongs to Mariner Partners!
1 Germain Street (18th floor Brunswick Square), Saint John, N.B.
The 18th floor of Brunswick Square (17,497 square feet), previously occupied by Salesforce, has been sub-leased by Mariner Partners. Mariner continues to occupy space in the Red Rose Tea building (12 Smythe Street) but seized an opportunity to take advantage of the top class finishes and flexible collaborative environment that had been created on the 18th floor of the Brunswick Square office tower. Salesforce continues to occupy the entire 16th floor of Brunswick Square. Stephanie Turner represented Salesforce and Ian McCoy of Re/Max Professional Saint John represented Mariner Partners.
MORE PICS>>>
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- view of city
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- design accent
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- kitchen
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- kitchen seating
This is interesting…a visual history of office space
…a brief history of how seating arrangements have reflected our changing attitudes towards work.
NOTE: This is only one section of the original infographic. To view the original in it’s entirety click HERE
Saint John Commercial Real Estate 